Sim Lian awarded Tampines Street 62 (Parcel B) EC site at record $721 psf ppr

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The recent award of the Tampines Street 62 (Parcel B) EC site at a record $721 psf ppr to Sim Lian Land and Sim Lian Development is poised to impact future executive condominium pricing. This significant record-high land rate surpasses the previous benchmark, indicating a positive market sentiment.

The heightened interest and confidence in ECs within Tampines, illustrated by the premium bid, suggest a potential increase in the average selling price for future EC developments. As a result, it may influence the pricing strategy for upcoming executive condominium projects in the region.

The site’s proximity to amenities and the Tampines North MRT Station, coupled with the confidence shown by developers, indicates a positive outlook for the area. This could potentially result in a slight premium for ECs in Tampines compared to other locations, further influencing future pricing trends.

While the demand for ECs remains robust, the escalating land prices may exert upward pressure on selling prices, potentially impacting the affordability of EC units. This raises the possibility of buyers needing to allocate more funds upfront to secure units in future developments.

In conclusion, the unprecedented land rate for the Tampines Street 62 (Parcel B) EC site may set a new pricing precedent for executive condominiums in the area, potentially affecting the affordability and overall market dynamics for such properties in the future.

Source: https://www.edgeprop.sg/property-news/sim-lian-awarded-tampines-street-62-parcel-b-ec-site-record-721-psf-ppr

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